Cordish to Break Ground on $270M Live! Casino Hotel Louisiana in Bossier City
The Cordish Companies testament break off ground on Live! Casino & Hotel LA on Dec 13 at 11:00 a.m. local time.
Cordish is embarking on its tertiary commercial gaming nation past right smart of Louisiana. Officials with the Live! casino manipulator says they’ll drop $270 meg to redevelop the former DiamondJacks Casino Resort inwards Bossier City, which it acquired from Foundation Gaming earlier this fall.
Cordish’s $270 billion investment funds is inward increase to the undisclosed acquisition cost of DiamondJacks and its gaming license.
Cordish plans to build a young land-based casino and redevelop the property’s 500-room on-site hotel. The projection to boot includes 25,000 square feet of customizable case space and numerous dining and drinking establishments.
Cordish tells Casino.org that Live! Casino & Hotel Louisiana is projected to generate to a greater extent than $35 meg inwards gaming taxes for the City of Bossier and over $168 trillion inward gaming taxes for the res publica within its initial Phoebe years inward business. The holiday resort is forecasted to employ 750 permanent positions and cater take opportunities for local, minority, women- and veteran-owned businesses.
Cordish Chairman St. David Cordish and Rob Norton, prexy of Cordish’s Gaming Group and Live! Casinos, testament be on helping hand Dec 13 for the groundbreaking ceremony ceremony. The accompany plans to undetermined its Louisiana resort hotel destination inwards too soon 2025.
First Land-Based Casino inward Market
In 2018, Pelican State lawmakers amended the state’s gaming law of nature to allow riverboats to go inland so long as they remain within 1,200 feet of their original barges. The casino amendment came after Hurricane Katrina in 2005, and several other powerful hurricanes and tropic storms did often hurt to riverboats, with some vessels even being picked upwards and slammed ashore past the brave events.
Before the 2018 change, Harrah’s New siege of Orleans was the lone land-based cassino in Louisiana. The redeveloped Queen of Baton Rouge opened as the indorse land-based cassino before this year following a $200 one thousand thousand overhaul.
Cordish is set to wreak the first-class honours degree brick-and-mortar gambling casino to the Shreveport/Bossier City market. Live! Casino & Hotel LA testament follow built straight turned US Highway 71 and Interstate 20, about 20 miles from the TX adjoin and 40 miles from the Arkansas River border.
Cordish’s gaming portfolio is currently headlined by Live! Casino & Hotel Maryland in Anne Arundel County nigh Baltimore-Washington International Airport. Cordish also manages Live! Casino & Hotel City of Brotherly Love inward the city’s Stadium District, and a so-called “mini-casino” inwards the Pittsburgh suburbs of Westmoreland called Live! Casino Pittsburgh.
DiamondJacks Saga
DiamondJacks closed in(p) inward the midst of the COVID-19 pandemic. Then-owner Peninsula Pacific Ocean Entertainment (P2E) decided to for good shutter the senescent riverboat in favour of relocating the LA gaming grant to a more attractive market.
P2E pitched the residents of St. Tammany Parish with a $325 jillion casino resort hotel inward Slidell, but voters thither rejected the project during a Dec 2021 local referendum. P2E after decided to sell DiamondJacks to Foundation, a Mississippi gaming firm, which inwards turn, sold it to Cordish.
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